Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 783	$ 753
Restricted cash	168	220
Mortgage servicing rights at fair value	11,431	11,736
Advances and other receivables, net of reserves of $116 and $112, respectively	1,124	1,345
Mortgage loans held for sale at fair value	2,475	2,211
Property and equipment, net of accumulated depreciation of $144 and $157, respectively	72	58
Deferred tax assets, net	149	230
Other assets	2,297	2,386
Total assets	18,499	18,939
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	4,902	4,891
Advance, warehouse and MSR facilities, net	6,161	6,495
Payables and other liabilities	1,956	2,322
MSR related liabilities - nonrecourse at fair value	381	418
Total liabilities	13,400	14,126
Commitments and contingencies (Note 15)
Common stock at $0.01 par value - 300 million shares authorized, 93.2 million shares issued	1	1
Additional paid-in-capital	1,063	1,077
Retained earnings	5,257	4,971
Treasury shares at cost - 29.2 million and 29.6 million shares, respectively	(1,222)	(1,236)
Total stockholders’ equity	5,099	4,813
Total liabilities and stockholders’ equity	$ 18,499	$ 18,939